Lost Card Insurance
Most banks cover you for fraudulent transactions that have been carried out on your card only after you report the loss to the Bank.
At Deutsche Bank AG, India (“Bank”), we understand that often you may not realize that your card is lost until you notice unauthorized transactions in your bank account. Which is why, we cover all the fraudulent transactions that may take place on your card for 30 days prior to reporting and 7 days post reporting the loss to the Bank.
You need to report the loss of your Deutsche Bank International Debit Card to Deutsche Bank by calling our 24/7 phone banking team on 1860 266 6660# in your city or visit your nearest branch counter immediately on such loss. Deutsche Bank will deactivate the card immediately to prevent misuse.
In case of misuse, you also need to send the following documents to us:
— FIR duly acknowledged by a police officer
— Letter giving details of the loss or disputed transactions
— Copy of Bank account statement highlighting the disputed transactions
— Duly filled in claim dispute form (available at any Deutsche Bank branches)
The liability per card shall be restricted to the maximum of Rs. 2.5 lakhs and you will be covered for all losses up to a maximum of 30 days prior to reporting the loss. On receipt of communication from you regarding your lost or stolen debit card along with the requisite documents, Deutsche Bank is authorised to conduct its own investigation in respect of such lost or stolen card. If such investigation reveals any direct or indirect involvement of the cardholder or cardholder's relatives or employees or colluding third parties, Deutsche Bank is authorised to take appropriate action against the cardholder in addition to refusing to give benefit of Total Protection to the cardholder. The findings of the Bank’s investigation shall be final and binding on the cardholder. Total Protection is subject to the terms and conditions of the applicable insurance policy.
The cardholder will get the benefit of this policy only if:
- The card account is in good standing
- There are not more than 2 unauthorised transactions on the debit card of the cardholder during the last 12 months, prior to reporting the loss of the debit card.
- The cardholder proves that he was not negligent in safeguarding the debit card and the claim is not fraudulent.